The initial public offer (IPO) of Jainik Power & Cables received bids for 70,76,400 shares as against 46,63,200 shares on offer. The issue was subscribed 1.51 times.
Qualified Institutional Buyers (QIBs) bid for 4,47,600 shares, Non-Institutional Investors (NIIs) for 24,94,800 shares, while Retail Individual Investors (RIIs) placed bids for 41,34,000 shares.
The issue opened for bidding on 10 June 2025 and it closed on 12 June 2025. The price band of the IPO was set at Rs 100 - 110 per share. The equity shares will list on NSE's SME platform.
The IPO comprised fresh issue of 46,63,200 shares. The promoter and promoter group shareholding diluted to 67.35% from 99.97% pre-issue.
The company intends to utilize the net proceeds for working capital requirement, fund and set up a plant, repayment of portion of loan availed by the company and general corporate purpose.
Jainik Power & Cables primarily engaged in operations into the production of aluminium wire rods. It is a manufacturer and supplier of aluminum wire rods with quality practices and compliant with the environmental, health, and safety (EHS) in the manufacturing industry as certified with the ISO certificates held by the company. The firm supply products across various states, mainly in Delhi, Haryana, Rajasthan, Uttar Pradesh, Uttarakhand. As on 31st March 2025, the company’s work force comprised 71 full time employees.
The company recorded revenue from operations of Rs 351.68 crore and net profit of Rs 9.23 crore for the period ended 31 March 2025.